The world’s largest credit risk management company, Experian, has reported a 7% year-on-year revenue increase in its UK and Ireland division for the first quarter of its financial year, led by an increased need for fraud protection amongst its clients.
The Dublin-headquartered company said that during the three months to the end of June it saw “good demand” amongst its Irish and British clients for fraud and identity management services.
Its credit services offering saw revenue growth of 3%, which reflected a slight improvement in business flows from the financial services sector, as well as growth in new customer segments such as utilities, telecommunications and the public sector.
Experian’s local business also performed well in email marketing, consumer services and data services. The UK and Ireland business, however, dipped in the area of marketing services.
Decision analytics revenue was up by 2%. This area of the business helps companies in identity management and fraud prevention.
Experian’s group revenues were up by 7%, on a year-on-year basis, aided by good growth in North America, Latin America and Europe, Middle East and Asia/Asia Pacific.
“We’re pleased with performance in the first quarter, which benefited from ongoing execution of our growth strategy, enabling us to outpace economic growth in the main regions in which we operate,” said chief executive Don Robert.
Management continues to expect to see mid-to-high single digit organic revenue growth, “moderately improved margins” and cash flow conversion of “at least 90%” for the company’s full financial year, which runs to the end of next March.
“As we look ahead, we continue to expect the strength and balance of our portfolio to support premium growth, notwithstanding recent civil unrest in Brazil, which has affected some consumer-facing sectors,” Mr Robert added.
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